Suffolk Chamber International Strengthens Trade Ties with Portugal through New MoU

Suffolk Chamber International has taken a significant step in enhancing international trade ties by signing a Memorandum of Understanding (MoU) with The Portuguese Offer - International Trade Exchange CIC. This partnership marks a major milestone in opening new opportunities for Suffolk businesses to expand into the thriving Portuguese market and beyond.

Portugal, often considered the gateway to a market of 500 million customers in Europe, offers Suffolk businesses unparalleled access to diverse consumer bases and economic opportunities. With Portugal’s economy growing consistently above the Eurozone average, and with total trade between the UK and Portugal reaching £12 billion in 2023, this MoU is poised to create valuable connections and growth prospects. The East of England, in particular, stands as a vital trade region, being Portugal’s 4th largest partner for exports and 5th for imports.

The partnership will foster collaboration, knowledge exchange, and mutual growth, providing Suffolk businesses with the support they need to explore new supply chains, increase exports, and thrive in an increasingly competitive global marketplace. Local companies will benefit from the strategic collaboration, facilitated by International Trade Manager, Koyas Miah, who has been working closely with international chambers and organisations to drive Suffolk’s international trade growth.

“We are excited about the opportunities this MoU presents for Suffolk businesses,” said Koyas Miah. “The Portuguese market offers immense potential, and this partnership will help local companies tap into new markets, gain valuable insights, and build lasting relationships. We look forward to seeing the positive impact this will have on Suffolk’s economy.”

The signing ceremony took place at the Portuguese Embassy in the UK, where the Portuguese Ambassador graciously hosted the event, with Embassy Attaché, Mr. Fernando Martins Sousa, facilitating the discussions. The MoU underscores the strong relationship between the Suffolk Chamber of Commerce and The Portuguese Offer - International Trade Exchange CIC, promoting closer ties between Portuguese authorities and Suffolk entities.

For Suffolk businesses, this new agreement offers the chance to thrive in a global economy with increased support for their international trade ambitions.

For more information on how Suffolk Chamber International can support your business in expanding into Portugal and other international markets, please email international@suffolkchamber.co.uk